We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the …

In decision theory projects are usually evaluated in terms of their riskiness, and often decision under risk is … risk acceptance, and aims at developing a theoretical framework based on networks theory. In doing this, the … for the risk-acceptance criterion to be consistent with the axiomatization of standard expected utility theory are also …

The mean-variance approach is an influential theory of decision under risk proposed by Markowitz (Markowitz, H. 1952 …

theory. We introduce a new representation of the decision maker’s set of events which extends the canonical representation … theory. We introduce a set of preference axioms similar to von Neumann and Morgenstern’s axioms, and show that they lead to a … traditional expected utility theory (e.g., Allais paradox, etc.) to be solved or better understood. Copyright Springer-Verlag 2013 …

This paper examines some of the consequences for economic theory of the replacement of binary personal preferences by … both much damage to existing theory and greater opportunity for providing formal explanations of such phenomena as … economic theory that is founded on a choice theory that is based exclusively on binary relational personal preferences. …